Consumers are investing in their homes

European consumers are continuing to invest in their homes, though forecasts are turning out to be somewhat cautious. This is one interpretation of the European Consumer Barometer 2012 from Commerz Finanz. In seven of the eight countries surveyed – not including Britain – market volumes for the building, home improvement and garden sector showed an increase in 2011. This contrasts with a deterioration in consumers’ buying intentions. Only in the Czech Republic do more individuals want to buy more DIY products in the next few months than previously (36 per cent), otherwise the figures are slightly downward, from 24 to 23 per cent on average.The middle classes in Europe are not losing their propensity to consume, despite the uncertain economic situation. They are simply adapting their buying behaviour to the situation and concentrating on their own homes: house alterations and renovations number among consumers’ top five buying intentions, accounting for a share of 37 per cent. In Germany, for instance, a jump from 22 to 49 per cent has been registered, while items related to the house or home range well above the European average in Hungary, Poland, the Czech Republic, Slovakia, Russia and Romania.The study also interprets data from statistical sources and BIPE, a market research company. These reveal that the annual spend of € 1 108 per household on DIY products in Germany is far higher than in other countries: in France the sum amounts to € 714, and in Portugal to € 441.